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Further Developments and Tests of a Progressive Algorithm for Multiple Criteria Decision Making

Author

Listed:
  • Pekka Korhonen

    (Helsinki School of Economics and Business Administration, Helsinki, Finland)

  • Herbert Moskowitz

    (Purdue University, West Lafayette, Indiana)

  • Pekka Salminen

    (University of Jyvaskyla, Jyvaskyla, Finland)

  • Jyrki Wallenius

    (Helsinki School of Economics and Business Administration, Helsinki, Finland)

Abstract

P. Korhonen, H. Moskowitz, and J. Wallenius (1986) developed a progressive algorithm and the supporting theory for modeling and solving multiple criteria decision problems with discrete alternatives. A special feature of the algorithm is that it relaxes the usual assumption of a fixed set of available decision alternatives and complete knowledge of a decision maker's (DM's) preference structure or value function. The algorithm is based on progressively sampling the decision space, obtaining preference information from the DM, determining the likelihood of finding possibly/surely better alternatives, and based on this information, continuing the search or terminating it by making the final choice. We describe a computerized implementation and extensive computational tests of the algorithm, as well as some of our experiences in applying and field testing it in practice. We also consider several improvements and developments of the algorithm to further facilitate its use in practice.

Suggested Citation

  • Pekka Korhonen & Herbert Moskowitz & Pekka Salminen & Jyrki Wallenius, 1993. "Further Developments and Tests of a Progressive Algorithm for Multiple Criteria Decision Making," Operations Research, INFORMS, vol. 41(6), pages 1033-1045, December.
    • Handle: RePEc:inm:oropre:v:41:y:1993:i:6:p:1033-1045
    DOI: 10.1287/opre.41.6.1033
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    Citations

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    Cited by:

    1. Pekka Salminen & Jeffrey E. Teich & Jyrki Wallenius, 1998. "The Secretary Problem Revisited - The Group Decision-Making Perspective," Group Decision and Negotiation, Springer, vol. 7(1), pages 3-21, January.
    2. Manel Baucells & Rakesh K. Sarin, 2003. "Group Decisions with Multiple Criteria," Management Science, INFORMS, vol. 49(8), pages 1105-1118, August.
    3. Ankur Sinha & Pekka Korhonen & Jyrki Wallenius, 2016. "Finding better alternatives than those considered in a multiple criteria data sample," Journal of Business Economics, Springer, vol. 86(1), pages 35-54, January.
    4. Nikolaos Argyris & Alec Morton & José Rui Figueira, 2014. "CUT: A Multicriteria Approach for Concavifiable Preferences," Operations Research, INFORMS, vol. 62(3), pages 633-642, June.
    5. Stein, William E. & Seale, Darryl A. & Rapoport, Amnon, 2003. "Analysis of heuristic solutions to the best choice problem," European Journal of Operational Research, Elsevier, vol. 151(1), pages 140-152, November.
    6. Lahdelma, Risto & Salminen, Pekka & Kuula, Markku, 2003. "Testing the efficiency of two pairwise comparison methods in discrete multiple criteria problems," European Journal of Operational Research, Elsevier, vol. 145(3), pages 496-508, March.
    7. Chun, Young H., 2015. "Multi-attribute sequential decision problem with optimizing and satisficing attributes," European Journal of Operational Research, Elsevier, vol. 243(1), pages 224-232.

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